Natural gas price technical analysis - for the
The weather is expected to be cooler than normal for most of the mid-west for the next 6-days days and then moderate. Advertisement Know where Natural Gas is headed? Resistance is seen near the day moving average at 2. Support is seen near the day moving average at 2. Medium-term momentum is positive as the MACD moving average convergence divergence index generated a crossover buy signal. This represents a net increase of 61 Bcf from the previous week. natural gas price technical analysis.
Natural gas price technical analysis Video
Natural Gas Technical Analysis for March 15, 2021 by FXEmpireNatural gas price technical analysis - apologise
It rallied strongly, leaving us with many potential choices for possible trades. Carl and I spotlight UNG often as we follow it closely. The chart has continued to shape up nicely -- since I spotlighted it on Wednesday, it has broken out. However, I cannot forget that it looked very bullish earlier this year, with a cup and handle pattern as well as a reverse head-and-shoulders. Both patterns busted, which is why I have listed a stop level just below the double-bottom. We have a new short-term double-bottom on UNG, which has broken above the confirmation line of the pattern. I also note a positive divergence between the OBV bottoms and the price lows of the double-bottom. There are risks, of course; I've already pointed out the busted patterns. It is very positive to see this new breakout; we didn't have it when I presented this chart Wednesday.Install We use a range of cookies to give you the best possible browsing experience.
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